Saturday, July 18, 2009

Musings

Ah.. been a terrible week for shortists and here i am, with a personal reviews

1. Obey my cp, ep, tp, and not affected by how people should look at your end trades.
2. Obey ur pre-plan route
3. Do not be influenced by what surrounding says
4. Do not be late for opening
5. Do not anticipate the trend
6. Listen to the market

Out of those above, main mistake was definitely 6, market was telling me on Mon, Tues with surprisingly good internals (strong advancers vs few) but i refuse to listen.

No doubt this can be a complex topping action

Here goes the market
Whether this rally have legs will much depends on next week,
Any first downside - 2,390, next few level will be 2,350 and finally 2,318 (the wonderful candle that negate 2 gaps at 1 time)
Upside potential will be 2,620 but the real test come in at 2,720 and that's will be a true test of faith

Sector
China:
China energy - waiting for breakout
Chinaaoil - waiting for 1.16
Cosco - above 1.2+
Yangzijiang - above 0.80
Midas - above 0.82

Commodities & Marine
Firstresour - 0.70
KS energy - a retest of 1.08 will have me long
Noble,straits - slight chance
kepcorp - look nice

Prop
HPL: 1.66+
Mis
Parkway - 1.70+
UOL - gd support at 3.20

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